NORWALK, CONN. — Shawmut Design & Construction has topped off the 24,000-square-foot office headquarters building for global luxury vinyl tile manufacturer HMTX Industries in Norwalk, located in the southern coastal part of the state. The facility will be situated on two acres and will include design studios and galleries. Construction of the four-story building began in June and is scheduled to be complete in 2022.
WILTON, CONN. — CBRE has negotiated the $3.7 million sale of a 47,040-square-foot office and industrial building in Wilton, located in Fairfield County. The property, which was built in 1965 and renovated in 2006, was vacant at the time of sale. Louis Zuckerman, Tom Pajolek and Pat Colwell of CBRE represented the undisclosed seller in the transaction. The team also procured the buyer, a joint venture between Fuller Development and Spinnaker Real Estate Partners that plans to reposition the property for residential use.
SOUTH WINDSOR, CONN. — Lyman Real Estate Brokerage & Development, a Connecticut-based firm, has negotiated the sale of a 48,060-square-foot industrial building in South Windsor, a suburb of Hartford. Sam Lyman of Lyman Real Estate represented the seller and occupant, Capitol Moving & Storage, in the transaction. Clancy Relocation & Logistics purchased the building.
HARTFORD, CONN. — Lument has provided a $26 million Fannie Mae loan for the refinancing of a 591-unit workforce housing portfolio in Hartford. All units are restricted to renters earning 60 percent or less of the area median income (AMI). Josh Messier of Lument originated the financing, which carried a 10-year term that includes five years of interest-only payments and a 30-year amortization schedule. The borrower was not disclosed. The portfolio was approximately 98 percent occupied at the time of sale.
NEW BRITAIN, MERIDEN AND MIDDLETOWN, CONN. — Greystone has provided multiple HUD-insured loans totaling $15.3 million for the refinancing of a portfolio of three multifamily properties totaling 278 units in Connecticut. The properties are located in New Britain, Meriden and Middletown. Each of the nonrecourse loans carries a fixed interest rate and 35-year terms and amortization schedules. Leor Dimant of Greystone originated the financing packages on behalf of the undisclosed borrower, which will use a portion of the proceeds to continue ongoing improvements.
OLD SAYBROOK, CONN. — Connecticut-based brokerage, consulting and development firm New England Retail Properties has brokered the $6.7 million sale of The Shoppes at Old Saybrook. The 94,175-square-foot regional shopping center sits on 8.5 acres and is located in the southern coastal part of the state. Tenants include Ocean State Job Lot, Town Fair Tire, Dollar Tree, O’Reilly Auto Parts and Midas Muffler. Matt Halprin of New England Retail Properties represented the seller, Basser Kaufman Saybrook LLC, in the transaction. Halprin also procured the buyer, OSJL of Old Saybrook LLC.
STAMFORD, CONN. — CBRE has negotiated the sale of Parc Grove Apartments, a 402-unit, newly renovated apartment community in downtown Stamford. Residences feature one-, two- and three-bedroom floor plans and are equipped with stainless steel appliances, granite countertops, wood-style flooring and full-size washers and dryers. Amenities include a clubroom with a fireplace lounge, resort-style pool, two-story fitness center and cross training room and an indoor basketball court. Jeffrey Dunne, David Gavin, Gene Pride, Jeremy Neuer, Steve Bardsley and Eric Apfel of CBRE represented the seller, an undisclosed global real estate investment advisor, in the transaction. The team also procured the buyer, Pacific Urban Residential LLC.
BRIDGEPORT AND NORWALK, CONN. — Northeast Private Client Group (NEPCG) has brokered the sales of two Connecticut apartment buildings totaling 37 units for a combined price of approximately $5.8 million. Atlantic Street Apartments in Bridgeport totals 16 units and sold for $1.9 million, and Fairfield Avenue Apartments in Norwalk totals 21 units and sold for $3.9 million. Bradley Balletto, Jeff Wright, Rich Edwards, Robert Paterno and John Lockhart of NEPCG represented both parties in both deals.
NEW HAVEN, CONN. — CBRE has arranged a $180 million construction loan for the development of a life sciences facility at 101 College Street in New Haven. The project will total 525,000 square feet and include office and biomedical lab space. The property is already over 70 percent pre-leased to tenants including BioLabs and Arvinas, which will move its headquarters to the property. Yale University will serve as the anchor tenant, occupying 125,000 square feet of space in the building and three of its 10 floors, according to Yale News. The lobby and first floor will include a combination of event space and retail offerings. A commercial bank led the financing with participation from Webster Bank. Heather Brown, Robert Borden and Grace Keating of CBRE arranged the loan on behalf of the developers on the project, Harrison Street and Winstanley Enterprises. “Arvinas’ exciting pipeline of therapies targeting oncology and neurodegeneration represents the type of groundbreaking research being done in Connecticut and New Haven, and we look forward to supporting their continued growth,” says Carter Winstanley, a principal at Winstanley Enterprises. “We are also honored that Yale has made a significant commitment within the building to continue its cutting-edge discovery and …
NEW HAVEN, CONN. — Marcus & Millichap Capital Corp. (MMCC) has arranged an $8.6 million CMBS loan for a portfolio of eight multifamily properties totaling 99 units in New Haven. Robert Noeldechen arranged the nonrecourse loan, which includes five years of interest-only payments, on behalf of the locally based borrower, Pike International. The direct lender was not disclosed.